Citi is one of the first banks to create an app for Apple’s Watch, offering basic account and transaction information via the smartwatch.
“The Citi Mobile app makes banking even more convenient for Citi customers with an Apple Watch,” a statement on the App Store read.
“A quick look lets you see your checking, savings, and credit card balances. You can get detailed information about your five most recent transactions, and even receive subtle notifications to remind you of payment due dates.”
Question marks remain over how widely wearable devices such as the Apple Watch will be adopted, with a recent survey suggesting that only one in ten UK customers are interested in buying the device. However, the technology has drawn the interest of a number of financial services firms keen to show their ability to innovate.
US financial management company Mint also revealed an app which will allow customers to view monthly spending goals and track progress toward meeting them, with weekly budget notifications
Meanwhile investment firm Fidelity announced the launch of its app which gives users an overview of global markets, as well as alerts on stocks and investments.
The Apple Watch is not the first smartwatch to attract attention of financial services companies. Software firm Intelligent Environments created an app for the crowd-funded Pebble device in 2013, while the UK’s largest building society, Nationwide, has launched its own Android Wear app.
“What we saw with the smart watch is that there is a growing number of people that like to receive information on their wrist, and people who use these devices enjoy the convenience of notifications in this way,” said Daryl Wilkinson, Nationwide's group head of digital development.
“The smart watch shows to customers with that appetite that their bank is responding and it is offering the modernity that they look for.”
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